NBFCs don't need bank status to succeed, say top leaders at BFSI Summit

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Shriram Finance, he said, is growing steadily, with deposits increasing by 20 per cent Year-on-Year, offering competitive rates similar to smaller banks.

He further explained that while banks enjoy some advantages, many NBFCs are larger and better governed than smaller banks.

Revankar suggested that if NBFCs were ever to transition into banks, it should be done slowly, through a “glide path” approach.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Banks NBFCs BFSI Summit BFSI Business Standard BFSI Insight Summit 2024 BFSI Insight Summit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 19:08:58 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 508 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23448153

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